Surge Battery Metals Announces Strong Lithium Results From Drill Holes One and Six at the Nevada North Lithium Project

Rhea-AI Summary

Surge Battery Metals has reported additional assay results from the Nevada North Lithium Project. The results confirm significant lithium clay content across multiple drill holes, particularly drill hole NN2201, which shows an average of 3,826 ppm lithium over 55 feet. Drill hole NN2206 revealed 1,590 ppm lithium over 20 feet. Overall, the project indicates a potential discovery of extensive lithium mineralization across over 500 meters of strike length. The company is actively exploring this lithium-rich area, positioning itself advantageous in the growing electric vehicle market.

Positive

• Assay results from NN2201 show an average of 3,826 ppm lithium over 55 ft.
• Drill hole NN2206 indicates 1,590 ppm lithium over 20 ft.
• Over 500 meters of strong lithium mineralization identified.
• The project could potentially represent a new lithium district.

Negative

• Drilling delays were caused by staffing issues at the analytical lab.

COQUITLAM, BC / ACCESSWIRE / December 8, 2022 / Surge Battery Metals Inc. (the "Company" or "Surge") (TSXV:NILI)(OTC PINK:NILIF)(FRA:DJ5C) is pleased to announce additional assay results from recent drilling at the 100% owned Nevada North Lithium Project in Elko County, Nevada. Assay results confirm layered zones containing significant lithium clay content further confirming the potential for a high tenor lithium clay deposit.

The tables below list the significant intercepts in each of two holes where interval averages are calculated using a 1,000-ppm lithium cut off value with no internal dilution. All holes were drilled vertically using reverse circulation percussion drilling methods.

Early in the drill program partial results obtained from drill hole NN2201 confirmed the potential for a significant lithium discovery. Complete results for the hole have not been available until now due to staffing problems at the analytical lab. Hole NN2201 was drilled to test an area of strong lithium in soil values.

Hole ID	From ft	To ft	From M	To M	Thickness ft	thickness M	Avg Li ppm
NN2201	0	55	0	16.76	55	16.76	3826
NN2201	95	140	28.95	42.67	45	13.72	2958
NN2201	165	225	50.29	68.58	60	18.29	2388

Results below are from drill hole NN2206, drilled within an area of strong soil values near outcrops of a welded tuff unit. The welded tuff appears to be the basement rock of the volcano-tectonic basin hosting the lithium rich sediments.

Hole ID	From ft	To ft	From M	To M	Thickness ft	thickness M	Avg Li ppm
NN2206	0	20	0	6.1	20	6.1	1590
NN2206	50	85	15.24	25.91	35	10.67	2479

Overall, the intercepts in the four holes near and along the central ridge line (Holes NN2201 and holes NN2203 thru NN2205) represent over 500 meters (1500 feet) of strike length of strong lithium mineralization (see figure below).

The position of the mineralized beds suggests the lithium rich claystone layers may be very extensive laterally. The same 3 mineralized horizons are in Holes NN2201, 03, 04, and 05 with NN2205 being located 660 meters to the northwest of "discovery hole" NN2201. The same pattern of claystone and blue-grey clay is seen in both drill holes NN2207 and NN2208, which are located 800m and 1,100m to the southwest of drill hole NN2201. Results from these holes are expected shortly.

Generally, mineralization is found in three distinct horizons of silty, weakly calcareous, claystone and with seams of blue-grey clay. Sedimentary textures are not well preserved in the chips, so the depositional environment is not clear, but it is thought to be in a lakebed environment. Rocks between the productive horizon are mostly reduced felsic air fall tuffs and tuffaceous siltstone. All holes ended in coarse cobble to pebble conglomerate or ash flow tuff. The lower tuff shows moderate propylitic alteration with replacement of mafic minerals by chlorite and disseminated pyrite.

While the property has several similarities to the Thacker Pass Deposit, the Nevada North Lithium Project is located some 290 km east of the McDermitt Caldera in what is likely a completely new lithium district.

Quality Assurance, Quality Control and Data Verification

Drilling utilized a buggy mounted system provided by O'Keefe Drilling Company of Butte, Montana. Site preparation and water handling was provided by Legarza Exploration of Elko, Nevada. Drill cuttings were collected on 5-foot intervals and bagged at the drill site by O'Keefe staff. Samples were collected from the site by the Surge Project geologist / QP and delivered to the ALS Global sample preparation facility in Twin Falls, Idaho. Samples were dried, crushed, and pulverized at the Twin falls facility and sent to the North Vancouver ALS laboratories for analysis. Samples were assayed using the ALS ICP-41 method using an aqua regia leach followed by ICP optical emission spectrography. The detection levels of lithium by this method are 10 - 10,000 ppm.

Quality control standards (MEG-Li.10.11) inserted into the sample submittal returned values well within expected range (750 ppm Li) using this method. Results for internal standards and duplicates provided by ALS were well within accepted values.

Qualified Person as Defined Under National Instrument 43-101: Alan J. Morris of Spring Creek, Nevada, a Qualified Person as defined under Nation Instrument 43-101 has reviewed and approved the technical aspects of this news release.

About Surge Battery Metals Inc. surgebatterymetals.com

The Company is a Canadian-based mineral exploration company active in the exploration for nickel-iron alloy in British Columbia and lithium in Nevada whose primary listing is on the TSX Venture Exchange. The Company's maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.

Nevada Lithium Projects

The Company owns a 100% interest in 154 mineral claims located in Elko County, Nevada. The Nevada North Lithium Project is in the Granite Range southeast of Jackpot, Nevada, about 73 km north-northeast of Wells, Nevada. The target is a lithium clay deposit in volcanic tuff and tuffaceous sediments of the Jarbidge Rhyolite package. The project area was first identified in public domain stream sediment geochemical data with follow up sediment sampling and geologic reconnaissance returning assay results for lithium ranging from 29.1 ppm to 5,120 ppm. Significant results included 89 samples outlining a highly anomalous zone containing sample points greater than 1,000 ppm lithium. Currently, the zone of highly anomalous lithium values extends about 1,700 meters east-west in two bands each about 300 to 400 meters wide. The anomalous values appear to be in soils developed on airfall or water lain rhyolitic tuff overlain by welded ash flow tuff.

In addition, the Company has a Property Option Agreement to earn an undivided 80% interest in 16 mineral claims, comprising 640 acres located within Nevada's San Emidio Desert, known as the Galt Property. Recent mineral exploration on the Galt claim group includes 51 playa sediment samples collected for chemical analysis at ALS Geochemistry in Vancouver, B.C. Results of aqua regia leaching of the samples show 68 to 852 parts per million lithium (mean 365 ppm), 5.3 to 201 ppm cesium (mean 72 ppm) and 35 to 377 ppm rubidium (mean 180 ppm). Results from two seven-foot-deep auger holes show lithium, cesium, and rubidium concentrations in the range of 143.5 to 773 ppm Li, 56.8 to 102.5 ppm Cs and 155 to 272 Rb.

Finally, the Company owns a 100% interest in 663 ha (1,640 acre) property in the Teels Marsh Project located in Mineral County, Nevada. The property is in an active region for both lithium exploration and production.

Nickel Projects, Northern BC

The Company has a Property Option Agreement to earn an undivided 80% interest in certain mineral claims from Nickel Rock Resources Inc. The Project (The Surge Nickel Project) consists of two non-contiguous mineral claims groups consisting of 6 mineral claim blocks located in northern British Columbia. One claim in the Mount Sidney Williams area (claim HN4), covers 1863 hectares immediately south of and adjacent to the Decar Project, currently being advanced by FPX Resources, and 5 claims in the Mitchell Range area, northeast of Decar, (N100 Group) covering 8659 hectares. Three of the claims are subject to 2% NSR, including the (HN4 claim and the two southernmost claims of the N100 claim group). Both projects target the nickel-iron alloy mineral "Awaruite", hosted by serpentinized intrusive rocks of the Trembleur Ultramafic Unit.

On Behalf of the Board of Directors

"Greg Reimer"

Greg Reimer, President & CEO

Contact Information

Email: info@surgebatterymetals.com
Phone: 604-428-5690

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward‐looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward‐looking. Forward‐looking statements are not guaranteeing future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward‐looking statements.

SOURCE: Surge Battery Metals Inc.

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FAQ

What are the assay results for drill hole NN2201 from Surge Battery Metals?

Drill hole NN2201 shows an average of 3,826 ppm lithium over 55 feet.

What lithium concentrations were found in NN2206?

Drill hole NN2206 revealed 1,590 ppm lithium over 20 feet.

How much strike length of lithium mineralization is confirmed?

The results indicate over 500 meters of strong lithium mineralization.

What is the significance of the Nevada North Lithium Project for Surge Battery Metals?

The project could represent a new lithium district, crucial for the electric vehicle market.

When will results from other drill holes be available?

Results from drill holes NN2207 and NN2208 are expected shortly.